Any society that would give up liberty to gain security, deserves neither and will lose both. - Benjamin Franklin
The European Union demanded Wednesday sweeping powers to override national budgets and proposed issuing joint eurozone bonds to help resolve and prevent a repeat of the debt crisis. "Without stronger governance, it will be difficult if not impossible to sustain the common currency," EU Commission chief Jose Manuel Barroso said of his latest legislative proposals. The head of the executive EU arm, Barroso presented radical plans that would allow him and Economy Commissioner Olli Rehn to decide to intervene in national policymaking. Each said such new powers were a pre-condition for pooling eurozone government bonds, presented as a future safeguard. |
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